ON Semiconductor Corporation • Robinhood Token vs Strategy PP Variable xStock

Strategy PP Variable xStock (STRCX) is 4249.6× the size of ON Semiconductor Corporation • Robinhood Token (ON) by market capitalisation. Over the past 30 days, STRCX is ahead by 19.0 percentage points (ON -15.3% against STRCX +3.6%). Their daily returns move barely together (correlation 0.17 across 22 shared trading days). Both have run at a similar volatility, around 48% annualised.

Correlation: 0.17
Size ratio: 1 : 4249.6
Ahead over 30 days: STRCX

ON Semiconductor Corporation • Robinhood TokenON

$71.3000

24h: +2.29%
Market cap: $33,407
Volume 24h: $5,665
Volatility (ann.): 45%

Strategy PP Variable xStockSTRCX

$109.5300

24h: +0.10%
Market cap: $141.97M
Volume 24h: $405,953
Volatility (ann.): 51%

ON 0.0%Share of the two combined market caps100.0% STRCX

Performance

ONSTRCX

7 days-8.52%+0.05%STRCX
30 days-15.33%+3.64%STRCX

Correlation

0.17over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	ON	STRCX
Max drawdown (400d)	-18.2%	-7.5%
Risk-adjusted return (90d)	-0.40	0.16

Relative strength over 90 days: STRCX outperformed ON by 8.0% — measured on the ON/STRCX ratio, so it holds regardless of market direction.

ON Semiconductor Corporation • Robinhood Token →Strategy PP Variable xStock →